New York – The Clearing House, the operator of the RTP® network, announced that new representatives have joined the RTP Business Committee.
The new representatives from banks and credit unions will join the existing RTP Business Committee, which provides input and guidance to the strategic execution of the RTP network so that it delivers safe, efficient, and accessible payments that include appropriate protections for all end users, among others duties.
Tony Gorrell, CEO of Sutton Bank, has been selected as a primary representative to the RTP Business Committee, and David Long, an EVP at Bryant Bank, has been named as an alternate representative.
Tina Knapp, VP/Director of Payments & Service Support at ESL Federal Credit Union, and current member of the RTP Advisory Committee, has also been selected as a primary representative for the RTP Business Committee, with Tynika Wilson, Senior Vice President, Debit Card & Funds Services at Navy Federal Credit Union, being reappointed to serve as an alternate representative on the Business Committee.
“We are delighted to welcome Tony, David and Tina to the RTP Business Committee, and are happy that Tynika will continue to serve on the Committee for another term,” said Steve Ledford, Senior Vice President of Product Development at The Clearing House. “Having experts from a variety of innovative community banks and credit unions helps to ensure that financial institutions of all sizes are involved in developing the strategy and product roadmap for the RTP network.”
The RTP network currently reaches 60% of U.S. demand deposit accounts and all federally insured depository institutions, regardless of size, can join the network. The RTP network, developed by The Clearing House, is the first new payments infrastructure built in the U.S. in more than 40 years and is empowering financial institutions and businesses to provide customers with innovative, value-added use cases for faster payments. The RTP network gives the banking industry a modern platform for 24/7 domestic real-time payments, complete with rich data capabilities and immediate payment confirmation. The network enables instantaneous settlement and availability, so funds can be used or withdrawn as cash within seconds. The RTP network offers a flat pricing structure for all depository institutions regardless of size, does not include volume discounts or have minimum volume requirements.
A major advancement to U.S. payments technology, the RTP network was launched in 2017 and was designed collaboratively by the TCH member banks and in complete alignment with the Federal Reserve-sponsored Faster Payments Task Force effectiveness criteria.
About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.
The Clearing House